A.S. Watson Holdings Ltd. operates as a holding company. The Company, through its subsidiaries, retails health and beauty products. A.S. Watson Holdings offers perfumes, cosmetics, food, electronics, wine, and beverages, as well as provides loyalty programs and free medical services.

A.S. Watson had its beginnings as the Canton Dispensary and Soda Water Establishment, founded in 1828, as a small dispensary with the mission to provide free medical services to the poor people of the Southern Chinese province of Guangdong. The Hutchison Group acquired a controlling interest in A.S. Watson & Co. Ltd in 1963. 1981 saw Hutchison Whampoa Limited take full control of A.S. Watson becoming a wholly-owned subsidiary.

A member of CK Hutchison Holdings, ASW operates the world's largest portfolio of retail formats, and retail brands and has the largest geographical presence. The company is majority owned by multinational conglomerate CK Hutchison Holdings Limited, with just over 75 percent, after the remaining stake was sold to Singapore government-owned Temasek Holdings in March 2014.

According to the Wikipedia